ILS
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The firm’s deals so far have covered cat risk, with space ILS in scope for the future. -
The subject business of the deal is Ascot’s ~$1bn property portfolio.
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Growth was driven by strong returns and new investors entering the market.
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The executive has worked for Scor, RMS, Aon and SiriusPoint, among others.
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Building better exposure datasets could draw a broader range of investors.
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Quick-moving cat risk trading may become more prevalent in the ILS market.
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The James River-Long Tail Re deal is the latest example of deal-specific investor capital.
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The timing is “opportune” to start the strategy according to Bennelong.
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Returns were down on 2023, which benefited from favourable Ian loss development.
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Winning higher-fee private ILS mandates will strengthen firms’ negotiating positions.
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The firm predicts 2024 will be a record year for primary issuance.
